Richard
D. Parsons, Chairman and Chief
Executive Officer of Time Warner
Inc. Is selected as MIPCOM's
Personality of the Years and TVI
Magazine, Person of the Week
402006 - -
OCTOBER
2006


Richard D. Parsons is Chairman of
the Board and Chief Executive
Officer of Time Warner Inc.,
whose businesses include filmed
entertainment, interactive
services, television networks,
cable systems and publishing. He
became CEO in May 2002 and
Chairman of the Board in May
2003.Since becoming CEO, Mr.
Parsons has led Time Warner's
turnaround and set the company on
a solid path toward achieving
sustainable growth.
In the process, he has put
in place the industry's most
experienced and successful
management team, strengthened the
company's balance sheet and
simplified its corporate
structure, and carried out a
disciplined approach to
realigning the company's
portfolio of assets to improve
returns.
In its January 2005 report
on America's Best CEOs,
Institutional Investor magazine
named Mr. Parsons the top CEO in
the entertainment industry.
-
CONTINUED

1.
Feature
Story
/

(continued)
-
RICHARD
D. PARSONS
NAMED MIPCOM
PERSONALITY OF
THE YEAR 2006,
and as
Television
International
Magazine,
Person of the
Week
402006,
for the month
of
OCTOBER
2006
TVI Magazine,
like Cannes,
France's Reed
MIPCOM,
selected
Richard D.
Parsons,
Chairman and
Chief Executive
Officer of Time
Warner Inc., as
its Person of
the Week NBS
achievement
winner, because
of his
leadership and
accomplisments
he earned in
the global
TeleCom
industry.
Mr. Parsons
will receive
the accolade on
Wednesday 11
October during
a gala dinner
for leading
industry
executives,
part of the
22nd annual
MIPCOM event (9
to 13 October,
Palais des
Festivals,
Cannes).
SEE
MORE STORY
MIPCOM
2006.
/
MORE
ABOUT
TIMEWARNER AND
RICHARD
PARSONS


Richard Parsons
(born April 4,
1948), is the
chairman and
CEO of Time
Warner.
A native of
Brooklyn, New
York, Mr.
Parsons earned
a law degree
from Albany Law
School, and
earned the
honor of
outscoring all
other test
takers of the
1971 New York
State bar
exam.
Parsons is also
a graduate from
the University
of Hawaii,
where he played
varsity
basketball.
Parsons served
as a lawyer for
New York
governor Nelson
Rockefeller and
followed
Rockefeller to
Washington when
he became vice
president in
1974.
In 1977 Parsons
returned to New
York and joined
Wall Street law
firm Patterson,
Belknap. He
left the firm
to become
president of
Dime Savings
Bank. He became
the bank's CEO,
seeing it
through a
merger with
Anchor Savings
Bank.
In 1995 he
became
president of
Time Warner,
helping
negotiate its
merger with
America Online,
which created a
$165-billion
media empire in
2000. In
December 2001,
AOL Time Warner
CEO Gerald
Levin declared
that Parsons
would succeed
him as CEO.
Also in 2001,
President Bush
selected
Parsons to
cochair a
commission on
Social
Security. In
addition,
Parsons worked
on the
transition team
for Michael
Bloomberg, who
was elected
mayor of New
York City in
2001.


2001
- In
January 2001,
Ted Turner
became Vice
Chairman of AOL
Time Warner, a
position from
which he served
until May
2003.
2000
-
AOL,
Steve Case,
Time
Warner
- Case,
the former
chief executive
of AOL, was the
driving force
behind its
ill-fated
acquisition of
Time Warner in
2000. So his
call for a
do-over, saying
the merger was
holding back
the pieces of
the empire he
forged, came as
a bit of a
surprise.

2000
-
Case
had the right
idea. As
millions of
homes sign up
for high-speed
Internet
service, the
Net is emerging
as an important
pipeline for
entertainment.
But like many
online
entrepreneurs,
he got the
timing wrong.
Wiring the
nation for
broadband is
taking longer
than they
thought, and
entertainment
companies have
been slow to
embrace the
Net. Beyond
that, it's no
mean feat to
meld disparate
corporate
cultures into a
giant
entertainment
and electronics
conglomerate
for the sake of
digital
"convergence"
-- as Vivendi
Universal and
Sony have also
learned.

2000
-
Case
joined other
restless Time
Warner
investors, such
as billionaire
Carl Icahn, in
urging the
company to
break itself
up. The company
should ignore
him.

2000
- As
the Pew
Internet &
American Life
Project pointed
out earlier
this year, "The
Web has become
the 'new
normal' in the
American way of
life." Time
Warner needs to
figure out how
to profit from
this change.
Owning AOL
helps the
company work
out new
business models
for the
broadband
era.
2005
-
TIME
WARNER boss
Richard Parsons
has said that
AOL is not for
sale and
Microsoft
should keep its
Volish paws off
his crown
jewels.
2005
-
GLOBAL
FORUM, BEIJING.
Richard
Parsons, CEO of
Time Warner
Inc, speaks
at the FORTUNE
Global Forum in
Beijing May 17,
2005. Parsons
said Time
Warner is
talking with
China's top two
broadcasters
about
partnerships in
the country's
newly opened TV
program-making
sector.
CLICK
FOR MORE CHINA
PARASONS -
TIMELINE
STORY.
2005
-
Global
Forum in
Beijing -
Time Warner
in talks for
China TV
tie-ups
-
Media
conglomerate
Time Warner
Inc. is talking
with China's
top two
broadcasters
about
partnerships in
the country's
newly opened TV
program-making
sector,
according to
its chief
executive.
CLICK FOR
CHINA 2005 Hu
Jintao u
TVInews
TIMELINE
2005
-
Officials
from Time
Warner, owner
of the CNN and
HBO television
networks and
the Warner
Bros. movie
studio, have
met recently
with
counterparts
from China
Central
Television
(CCTV) and
Shanghai Media
Group (SMG)
about ways they
can work
together, said
Chief Executive
Officer Richard
Parsons.
2005
-
"We
have an awful
lot of both
content and
expertise we
think can be
helpful to
developing the
TV industry
here in China,"
Parsons told
reporters at a
media briefing
at a business
conference in
Beijing.
2005
-
"In
terms of target
dates, we're
really at the
beginning of
trying to
create these
relationships
and I would
hope that by
next year we
would have some
success."
2005
-
Time
Warner and many
of its peers,
including Sony
Corp and
Viacom Inc.,
have announced
a string of TV-
and
movie-making
ventures in
recent months,
following the
opening of the
industry to
foreign
investment late
last
year.
2005
-
But
whereas the
others,
including a
News Corp.
venture still
in
negotiations,
are focused on
TV programs,
Time Warner's
venture
announced last
year was
focused on
movie making,
also a largely
undeveloped
sector in
China.
2005
-
In
one of its few
recent TV
initiatives in
China, the
company's HBO
unit formed a
partnership
last year to
provide movies
to
CCTV.
2005
-
Many
believe that
China has the
potential to
become one of
the world's
biggest media
markets, with
ad spending
rising 25
percent last
year to reach
194 billion
yuan ($23.43
billion),
according to
CTR Market
Research.
2005
-
Parsons
said Time
Warner saw big
potential in
the Chinese
market, but he
acknowledged
that any
meaningful
contributions
to the
company's sales
were still at
least five
years off. He
said that China
and Hong Kong
combined now
contributed
just half of 1
percent of Time
Warner's total
revenue.
2006
-
"We're
talking longer
term in China,"
he said. "We're
here now
strengthening
our
relationships,
getting our
feet wet with
local partners.
... We think
over time it
will pay huge
dividends for
our company,
but that's a
five- to
10-year
timeframe."

2006
-
Warner
Makes Deal With
YouTube
/
The
record label
grants the
website's
amateur
filmmakers free
use of its
music in
videos.
/
By
Dawn C.
Chmielewski and
Charles Duhigg,
Times Staff
Writer /
September
19, 2006
2006
-
Lip-syncing
lawbreakers got
a measure of
amnesty when
Warner Music
became the
first major
record label to
let YouTube's
legions of
amateur
filmmakers use
its songs
&emdash; free
and legal
&emdash; as
soundtracks for
their homemade
movies.
2006
- 09 -
Warner
Music Group
Corp.'s
agreement with
YouTube Inc.
marks the first
time a big
label has
embraced the
Internet's
remix culture
in which
copyrighted
works are
reinterpreted
by fans. It's a
major step
toward
embracing
technologies
that the
industry once
tried to sue
out of
existence.
2006
- 10 -
RICHARD
D. PARSONS
NAMED MIPCOM
PERSONALITY OF
THE YEAR 2006,
and as
Television
International
Magazine,
Person of the
Week
402006,
for the month
of
OCTOBER
2006 /
MORE
ABOUT
TIMEWARNER AND
RICHARD
PARSONS
/
MORE
ABOUT
MIPCOM.
/

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ABOUT
MIPCOM.
"We are
extremely
pleased to
honour Richard
Parsons as our
MIPCOM
Personality of
the Year. Under
his leadership,
Time Warner
informs,
entertains and
connects people
all over the
globe through
its leading
brands and
programming,"
says Reed MIDEM
Chief Executive
Officer Paul
Zilk. "In an
ever-evolving
world defined
by constant
technological
and demographic
change, Time
Warner - with
its long
tradition of
innovation and
creativity -
continues to
shape not only
our industry,
but the culture
we live
in."MORE
ABOUT
MIPCOM.
/
MIPCOM
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